Photonews Logo Photonews logo
  • Home
  • Pakistan
    • Punjab
    • Sindh
    • Khyber Pakhtunkhwa
    • Azad Jammu Kashmir
    • Balochistan
    • Gilgit – Baltistan
  • World
  • Business
  • Entertainment
  • Videos
    IShowSpeed Daniel La Belle race
    Videos

    IShowSpeed Beats Daniel La Belle in 40-Meter Race, Hits 41M Subscribers

    June 24, 2025 2 Min Read
    Cardi B new single Outside
    Videos

    Cardi B’s ‘Outside’ Single Sparks Buzz Over Offset and Stefon Diggs

    June 20, 2025 2 Min Read
    Squid Game Season 3
    Videos

    Squid Game Season 3: Final Trailer Unveils Epic Plot

    June 14, 2025 2 Min Read
  • Sports
  • Technology
  • Offbeat
  • Blog
  • Contact
Reading: Bitcoin Hits Record $100,000 as Trump Election Fuels Crypto Optimism
PhotoNews Pakistan PhotoNews Pakistan
Font ResizerAa
Search
  • Home
  • Pakistan
    • Punjab
    • Sindh
    • Khyber Pakhtunkhwa
    • Balochistan
    • Azad Jammu Kashmir
    • Gilgit – Baltistan
  • World
  • Business
  • Entertainment
  • Videos
  • Sports
  • Technology
  • Offbeat
  • Blog
  • Contact
Have an existing account? Sign In
Follow US
© 2022 Photonews. All Rights Reserved.
Bitcoin price rebound
PhotoNews Pakistan > Business > Bitcoin Hits Record $100,000 as Trump Election Fuels Crypto Optimism
Business

Bitcoin Hits Record $100,000 as Trump Election Fuels Crypto Optimism

Web Desk
By Web Desk Published December 5, 2024 3 Min Read
Share
Bitcoin USD Price on Surges. Photo: CNBC
SHARE

Bitcoin has soared above $100,000 for the first time, catalyzed by Republican Donald Trump’s presidential election and the anticipation of a crypto-friendly administration.

The rise marks a more than double increase in value this year, with a 45% gain in just the four weeks following Trump’s victory, bringing numerous pro-crypto lawmakers to Congress.

Mike Novogratz, CEO of Galaxy Digital, described the surge as a paradigm shift. “We’re on the brink of mainstream acceptance for digital assets,” he commented, citing growing institutional involvement and clearer regulatory pathways as key drivers.

Justin D’Anethan, a crypto analyst based in Hong Kong, echoed this sentiment. “Bitcoin crossing $100,000 is a testament to shifting finance and technology tides,” he stated.

$100,000 Bitcoin—more than a number. pic.twitter.com/d9e5ewhcpI

— Galaxy (@galaxyhq) December 5, 2024

In his campaign, Trump promoted the U.S. as a future global leader in crypto and promised to stockpile bitcoin nationally. Following his victory, Trump announced plans to nominate Paul Atkins, a former SEC commissioner and crypto policy expert, to lead the Securities and Exchange Commission, signalling a potential reduction in regulatory pressures from outgoing SEC Chair Gary Gensler.

Moreover, Trump’s involvement in crypto extends to his businesses. His media company is reportedly nearing a deal to acquire crypto trading firm Bakkt, which would further entwine his administration with the crypto sector.

The crypto market’s buoyancy is also evident in the inflow of over $4 billion into U.S.-listed bitcoin ETFs since the election, signalling robust investor confidence. This resurgence follows a significant drop in Bitcoin’s price to below $16,000 in late 2022 and a recovery spurred by the approval of Bitcoin ETFs in January.

Bitcoin hits $100,000 milestone level as Trump-fueled rally reaches new heights https://t.co/5vtQ437k5j by @ines_ferre

— Yahoo Finance (@YahooFinance) December 5, 2024

Market analysts like Steven McClurg of Canary Capital remain optimistic, projecting Bitcoin could reach $120,000 by Christmas. “After we clear the current sell orders, the price could climb even higher and rapidly,” McClurg explained.

Read: Bitcoin Surges Past $80,000 as Trump Advocates for Cryptocurrency

This milestone, however, continues to draw scrutiny. The crypto industry has faced criticism for its environmental impact and vulnerability to crime, which was highlighted by the recent FTX scandal. Nonetheless, the sector’s resilience and the significant political and business developments suggest a dynamic phase ahead for cryptocurrencies.

TAGGED:Bitcoin PriceCrypto CurrencyFeatured
Share This Article
Facebook Twitter Pinterest Whatsapp Whatsapp LinkedIn Email Copy Link Print
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Advertisement

HBL Saving Made Easy
HBL Saving Made Easy

Recent Posts

Nicki Minaj High School Challenge

Nicki Minaj High School Challenge Goes Viral

Pakistan foreign loans FY25

Pakistan Secures $12.4 Billion in Foreign Loans for FY25, Up $2.6 Billion from FY24

PIA Privatization and share price

PIA’s New Buyer Required to Invest Up to Rs70 Billion Over 5 Years

Post Archives

More Popular from Photonews

PTI Coverage Boycott
Khyber Pakhtunkhwa

PTI Senate Covering Candidates Withdraw for Unopposed Wins in KP

2 Min Read
India Pakistan WCL cricket match canceled
Sports

India-Pakistan Cricket Match Cancelled After Indian Players Refuse to Play

3 Min Read
SpaceX invest xAI 2 billion
Tech

Elon Musk Launches Kid-Friendly AI Chatbot Baby Grok

2 Min Read
Tech

Apple Offers Glimpse Into Its AI Model Training With New Technical Report

Apple released a technical document on July 21, 2025, detailing its next-generation AI models introduced at…

July 22, 2025
PakistanTop News

Pakistan Air Force Wins Top Awards at RIAT 2025

The Pakistan Air Force (PAF) achieved top honours in two categories at the Royal International Air…

July 19, 2025
Top NewsWorld

Astronomer CEO Andy Byron Resigns After Viral Coldplay Kiss Cam Incident

Astronomer CEO Andy Byron resigned after a viral video from a Coldplay concert showed him embracing…

July 20, 2025
TechTop News

Crypto Market Hits $4 Trillion Milestone Following Trump Signs GENIUS Act

The cryptocurrency market has reached an impressive valuation of $4 trillion, largely driven by recent U.S.…

July 22, 2025
PhotoNews Pakistan

Always Stay Up to Date

Subscribe to our newsletter to get our newest articles instantly!

Categories

  • World
  • Pakistan
  • Punjab
  • Sindh
  • Khyber Pakhtunkhwa
  • Balochistan
  • Azad Jammu Kashmir

 

  • Top News
  • Business
  • Entertainment
  • Sports
  • Videos
  • Tech
  • Offbeat
  • Blog

© 2024 Phototnews
All Rights Reserved.

Welcome Back!

Sign in to your account

Lost your password?